State Street Corporation Rents office space in Equinox, BKC from Brookfield Properties
Mumbai: A Strategic Move by State Street Corporation
Global financial services giant State Street Corporation has made a significant investment in India by leasing an entire commercial office tower at the Equinox Business Park, located near Mumbai’s premier business district, Bandra-Kurla Complex (BKC). This long-term lease deal spans 10 years, with a rental commitment exceeding ?350 crore. The leased property, encompassing 250,000 sq ft, will house the company’s Global Capability Center (GCC), underscoring Mumbai's growing prominence as a hub for global operations.
Details of the Transaction
The ground-plus-six-storey tower, part of the expansive 10-acre Equinox Business Park, has been secured under a lease agreement featuring a 36-month lock-in period and annual rental escalations of 4.5%. This facility will enable State Street to leverage India’s highly skilled workforce and cost advantages to streamline its global operations.
The New York Stock Exchange (NYSE)-listed financial services provider, headquartered in Boston, joins a growing list of international firms establishing GCCs in India, a trend that reflects the nation’s strong business ecosystem, robust talent pool, and advanced digital infrastructure.
Bandra-Kurla Complex (BKC): Mumbai's Premier Business District
The Bandra-Kurla Complex (BKC) is a central business district in Mumbai, developed to decongest the traditional commercial areas of South Mumbai. It has evolved into a prominent upscale commercial hub, commanding some of the highest property rates in the country. BKC houses numerous multinational corporations, financial institutions, and consulates, making it a preferred destination for global businesses seeking a presence in India.
Premium Developments Elevating BKC's Status
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